More than likely you are already pumped up about the large check you are more than likely going to get from the government. You might have even gone shopping mentally for some gadget you have had you eye on. That can be a fatal mistake.

Now, I'm not trying to be a scrooge here, but the plain truth is, I don't really like this government plan to try to stimulate the economy and pull us away from a possible recession by encouraging you to hurry out and spend the money at your favorite gizmo store. President Bush stated, 'Letting Americans keep more of their own money should increase consumer spending, and lift our economy at a time when people otherwise might spend less.' In my opinionThe President needs to read The Fair Tax Book by Neal Boortz.

As recently reported in the Wall Street Journal, in December 2007, Americans had $944 BILLION in total revolving debt, most of it on credit cards. Spending with plastic cards has infiltrated every corner of our American lifestyle. In the past, consumers put only discretionary expenses on credit cards. Now, many consumersare so short on cash that they use revolving credit cards to pay for necessities like gas and groceries just to make it through the month. That is economic slavery.

The government's plan may sound like it will work, however,but I don't think it is a good plan. I believe a much better plan is to utilize that rebate money to reduce your debt on credit card balances. If you have less debt, you eventually willwill eventually have a bigger bank account to spend on necessities like gas and groceries. This is about basic survival for families like yours. There is not an economy on the planet that can flourish when the public is buried under a mountain of suffocating debt.

Have you already planned out how you are going to spend your stimulus tax rebate? I'm supporting the plan of using your rebate towards gaining your financial freedom! Here's the best advice I can give you.

Do NOT spend the money before it even arrives in your mailbox by going on a mental shopping trip. Instead, figure out how you can use the money to improve your financial condition.

Use the cash windfall to reduce your credit cardpay off debt. There is no good reason to go out and spend the rebate on 'stuff' when you already can't pay for the stuff that's already sitting on your credit cards as debt. When you are DEBT FREE, you can begin saving up to buy that gadget or gizmo you have been salivating over.

If you are already debt free, then invest the money so it will make more money for you. It doesn't take but a few years before that $600 or $1,200 dollars can grow to double or even triple the value at an 8 - 12% return.

Okay, okay. If you can't control yourslef and just have to blow some of the rebate on a splurge item, then at least limit the amount you spend by going out for a nice dinner or buying that music CD or book you've been wanting. Then use the rest to pay off debt or invest for your future. The quicker you become debt free, the more often you can do fun things with your income instead of spending sleepless nights worrying about how you are going to pay off those credit cards and get out of debt.

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to achieve financial freedom. Watch the FREE 5-minute demo video on her website www.MoneyMgmtSolutions.com